Insider Buying: Progyny, Inc. (NASDAQ:PGNY) Chairman Buys 150,000 Shares of Stock

Progyny, Inc. (NASDAQ:PGNY) Chairman David J. Schlanger bought 150,000 shares of Progyny stock in a transaction dated Thursday, December 26th. The stock was purchased at an average cost of $14.68 per share, with a total value of $2,202,000.00. Following the completion of the acquisition, the chairman now directly owns 228,269 shares in the company, valued at approximately $3,350,988.92. The trade was a 191.65 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Progyny Stock Performance

PGNY stock opened at $16.90 on Friday. Progyny, Inc. has a 1 year low of $13.39 and a 1 year high of $42.08. The firm has a market cap of $1.44 billion, a P/E ratio of 29.14, a PEG ratio of 1.64 and a beta of 1.35. The stock’s 50 day moving average price is $15.23 and its 200 day moving average price is $20.51.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). Progyny had a return on equity of 11.36% and a net margin of 5.03%. The business had revenue of $286.63 million for the quarter, compared to analysts’ expectations of $296.85 million. During the same period in the prior year, the company earned $0.16 EPS. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, research analysts predict that Progyny, Inc. will post 0.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PGNY has been the topic of several recent research reports. Bank of America dropped their price target on Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Canaccord Genuity Group dropped their price target on Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a research report on Wednesday, November 13th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $17.00 target price (down previously from $22.00) on shares of Progyny in a research report on Monday, December 2nd. Jefferies Financial Group lowered their price target on Progyny from $31.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, September 19th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $25.00 price target on shares of Progyny in a report on Tuesday, October 1st. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Progyny has an average rating of “Hold” and an average price target of $25.00.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. State Street Corp raised its position in shares of Progyny by 4.5% in the 3rd quarter. State Street Corp now owns 3,113,654 shares of the company’s stock worth $52,185,000 after buying an additional 134,861 shares during the period. International Assets Investment Management LLC raised its position in shares of Progyny by 1,576.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,565,118 shares of the company’s stock worth $42,991,000 after buying an additional 2,412,068 shares during the period. Pacer Advisors Inc. raised its position in shares of Progyny by 12,579.4% in the 3rd quarter. Pacer Advisors Inc. now owns 2,492,642 shares of the company’s stock worth $41,777,000 after buying an additional 2,472,983 shares during the period. Invenomic Capital Management LP purchased a new position in shares of Progyny in the 3rd quarter worth $29,509,000. Finally, Farallon Capital Management LLC raised its position in shares of Progyny by 120.8% in the 2nd quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company’s stock worth $37,436,000 after buying an additional 715,900 shares during the period. Hedge funds and other institutional investors own 94.93% of the company’s stock.

About Progyny

Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions in the United States. Its fertility benefits solution includes differentiated benefits plan design, personalized concierge-style member support services, and selective network of fertility specialists.